6 Easy Ways to Save money with Your Credit Card

A lot of people have a love-hate relationship with their credit cards. They can’t live without them, but are always tempted to leave them and go back to cash or to debit cards. The funny thing about debit cards is that the banks already have your money, and yet you pay more charges and is more inconvenient to use than credit cards. In addition, credit cards have all the promos which make them all the more irresistible.

Credit cards still require prudent usage; however, there are ways to take advantage of their features and promos in order to save money. Here are the six most popular ways to save money on credit cards:

1. Asking for a Reconsideration

Most first line credit card approvals are done by computers. The computer algorithms they use include checking up on your credit standing. As a first line of processing, the computer errs on the side of caution. It is better to be mistaken, and not approve someone with a good credit standing, rather than approve someone else who might be a risk. The good news is that if you have a good credit standing and you have business with the bank, you can get reconsidered. Give the bank a call or pay them a visit and talk to a credit card representative, and explain your good credit standing, You might also mention that you might close some of your accounts and move them to another (competing) bank. Human live representatives have more leeway to approve a credit card.

2. A Better Signup Bonus

Credit Card Cincinnati offers a lot of signing bonuses, and some are definitely better than others. If after signing up, you found that they have a better and different signup bonus offer, you can have your approved application moved to the other one. You can call the bank and explain this to a customer representative, or you can do this over their website. If you call over the phone, take note of the other person on the line, and get all pertinent details about your phone call. Follow up within a day or two. If you do this online, the email exchange serves as the documentation and would be more pressing on their part, especially when you follow up on your request.

3. When it is Time to Ask for a Chargeback

As much as consumers want to keep their perfect credit record, merchants are more afraid of losing their credibility with the credit card company. When you have requested your money back for returns, talked to a customer support and his supervisor, and still no results, you can inform them that you would be calling the credit company to ask for a chargeback.

Merchants are more afraid of chargeback’s because it will reflect on the merchant’s reputation. They would be more than willing to refund, rather than have the credit card company institute a chargeback.

4. Signing Up Again

Most times, credit card companies have signup campaigns offering higher signing up bonuses based on your rewards points or miles. You can take advantage of these offers by signing up for a second card, or you can have your partner or spouse sign up. If you’re spending pattern will not change, there is no risk involved in getting a second card.

5. Take Advantage of Your Statement Cycle

One way to take advantage of your statement cycle is to pay before the billing cutoff date. Any payments made before this date will not be charged extra. Besides that, the reverse is also true: buy after the billing cutoff date. Purchases after the cutoff date will appear on the next billing cycle. In effect you would have close to two months of free credit.

6. Purchasing Gift Cards

Credit cards want you to purchase more by offering rewards, promos, double points, or even cash rebates. To take advantage of this, you can buy gift cards. It’s like exchanging money — in the form of credit — for the same value in gift cards. Since you frequent these merchants, you can use the gift cards at any time before their expiry date.

Tags: Charge card, Credit card, Credit card fraud, Credit union, Debit card

Category: Credit Card